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Investment Documents Explained

Prior to the completion of an investment request, each investor must read and understand the documents associated with each loan.

There are four documents relevant to each investment:

General Security Deed – The GSD constitutes an ‘all assets’ charge over the assets of the SPV. These assets will include the interest of the SPV as a lender and as the holder of the various security to secure the loans e.g. first registered mortgages over real estate.

Security Trust Deed – The Security Trust Deed is the document which constitutes a security trust such that the security trustee (AltX) holds the benefit of the General Security Agreement (GSA) on trust for the Noteholders.

Management Agreement – The Management Agreement is the document which appoints AltX or related entities as the Investment Manager of the SPV.  Fees are paid by the SPV to the Investment Manager.

Note Issue Deed – The Note Issue Deed sets out the terms of the issue of the Notes to the Noteholders.  The Noteholders, constituting 50% or more of the Notes, may, should default occur under the Notes, direct the Security Trustee to enforce the charge under the GSD against the SPV.


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